According to a recent market research report on the global market for frozen foods, published by the market intelligence firm Persistence Market Research, the global market for frozen foods will exhibit positive growth between 2014 and 2020. The report is titled “Global Market Study on Frozen Food: Frozen Ready Meals to be the Largest Segment by 2020”. It is estimated that the market grew from a net worth of US$1,11,400 million in 2010 to US$1,22,084.6 million in 2013, exhibiting growth at a CAGR of 3.1% in terms of value.
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The report states that the steadily rising global frozen foods market will benefit from factors such as rising urbanization, busy lifestyles, increased disposable incomes of the global population, and rising number of working women in the urban parts of the world. Of the key product types available in the market, the market segment of frozen ready meals, which simply need to be warmed before consumption, is the fastest growing market segment.
The report segments the frozen food market based on two key criteria: products and regional markets. Based on products, the market is segmented into frozen ready meals, frozen potato products, frozen fish/seafood, frozen pizza, frozen bakery products, and frozen meat products.
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In 2013, the market segment of frozen ready meals emerged as the largest product segment of the global frozen foods market in terms of value, with a net value of US$29,361.3 million. This product segment exhibited growth at a 3.3% CAGR between 2010 and 2013. In terms of volume, the market for frozen ready meals increased at a 2.5% CAGR during the same period, and reached 6,205.2 million kg in 2013.
Region-wise, the market is segmented into Europe, North America, Asia Pacific, and the Rest of the World. A detailed study of the chief economies in these regional markets is presented in the report. Of these regional markets, the European market for frozen food, which was the largest regional market in 2013, observed growth at a 2.8% CAGR between 2010 and 2013. This market had a net valuation of US$44,683.0 million in 2013. The Asia Pacific market is expected to overtake the Europe market and exhibit growth at a 6% CAGR over the forecast period.
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The report presents a detailed account of the key businesses operating in the global market for frozen foods. The competitive landscape analysis of the market presented in the report is a comprehensive picture of the various key companies in different countries and their market shares on a global level. The report also gives a comprehensive account of the key distribution channels and their market shares on a global level.
Major companies profiled in the report include Nestlé S.A., Kraft Foods Group, Inc., ConAgra Foods Inc., Ajinomoto Co., Inc, Unilever PLC, Tyson Foods, Inc., Pinnacle Foods Inc., General Mills, Inc., Maple Leaf Foods Inc., and H. J. Heinz Company. The business profiles are analyzed based on attributes such as company overview, recent developments, financial performance, and products and services.
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